Fidelity Savings Ass'n v. Shea
Idaho Supreme Court
APPEAL from District Court, Barmock County. A payment upon a collateral is not a payment on the debt. (Endlich on Building Associations, 2d ed., sec. 4-Tt; Philadelphia Mer. Loan Assn. v. Moore, 41' Pa. St. 233.) There is nothing unfair or illegal about the contract.
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APPEAL from District Court, Barmock County. A payment upon a collateral is not a payment on the debt. (Endlich on Building Associations, 2d ed., sec. 4-Tt; Philadelphia Mer. Loan Assn. v. Moore, 41' Pa. St. 233.) There is nothing unfair or illegal about the contract. The interest and premium which is to be applied as interest on the note only amounts to thirteen dollars, and. twenty cents per year on each $100, or thirteen and one-fifth per cent per annum, which, at the time the contract was made, was not a usurious rate of interest. It is only wben we destroy this fair, reasonable and legal…
1Opinion of the CourtQuarles, J.
(After Stating the Facts.) — Owing to the importance of this case, we have given the lengthy and very able argument of the appellant more than ordinary attention. But, after a careful and studious consideration in the record before us, we have arrived at the conclusion that it is to be regarded: as coming within the rule laid down in the following cases, to wit: Stevens v. Association, 5 Idaho, 739, 51 Pac. 779; Mills v. Association, 75 N. C. 292; Association v. Wilcox, 24 Conn. 147; Association v. Blackburn, 48 Iowa, 385; Gordon v. Associaiton, 12 Bush, 110, 23 Am. Rep. 713; Association v.…
2Cases cited9 opinions
- Mills v. Salisbury Building & Loan Ass'nSupreme Court of North Carolina · 1876
- Stevens v. Home Savings & Loan Ass'nIdaho Supreme Court · 1898
- Vermont Loan & Trust Co. v. HoffmanIdaho Supreme Court · 1897
- Green v. State Board of CanvassersIdaho Supreme Court · 1896
- Gordon v. Winchester Building & Accumulating Fund Ass'nCourt of Appeals of Kentucky · 1876
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3Cited by24 opinions
- Plaza Amusement Co. v. RothenbergMississippi Supreme Court · 1930
- Western Savings Co. v. HoustonOregon Supreme Court · 1901
- Dairy Equipment Co. of Utah v. BoehmeIdaho Supreme Court · 1968
- Groover v. Pacific Coast Sav. SocietyCalifornia Supreme Court · 1912
- State Ex Rel. Gordon v. BeckerSupreme Court of Missouri · 1932
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